According to the U.S. Department of Labor, a typical executive job search takes one month for each $10,000 in desired income. Some simple math quickly illustrates we are way ahead of that trend. The 2018 average base salary for our clients was $225,000 approx. Their approx. median time in search was 6.4 months.
Executive hiring was strong in the 3rd and 4th quarters 2018 and we expect that trend to continue at an even greater pace in the 1st and 2nd Quarters of 2019. Even with the economic downturn across multiple industry sectors, we remain pleased that search times for our clients has been far ahead national job search time-frame expectations, and was so even during the great recession of 2008-2013.
When the economy is good, hiring takes place. When times are bad, we just have to work harder to create opportunity…
The length of an executive job search campaign varies and is contingent on a variety of variables including: Work history, employment record, wage/compensation requirements, desirability of particular skill set, economy, off-shoring industry trends, interviewing skills, time devoted to job search, willingness to actively participate in the campaign strategy, marketing package presented to hiring authorities and many other personal or external reasons that cannot be controlled by the candidate or Browning Associates.
***Client Success Rate:
Browning Associates achieves a high level of success because of our steadfast commitment to our client. Nevertheless, there are some candidates who do not accept a new position. They do so for multiple reasons typically including: Cease search endeavor after deciding to purchase a business or franchise, early retirement, health conditions, etc. The number of reasons is unlimited. A few are not successful for personal reasons. Their circumstances change and they find that they must place severe restrictions on their search such as (geographical, salary demands, field of specialty, etc.) and the immediate circumstances won’t allow them to consider other options. Another major factor is, some clients are not willing to adapt to a traditional means and most effective mechanism of promoting their personal brand…
***Salary and Package Statistics:
This represents a slight increase over 2016 where the negotiated base salary of our clients was approx. $205,000. Our clients, historically, receive larger financial packages than do their peers. In post-employment interviews, they tell us that through our value-driven approach and by employing our exclusive interviewing and negotiation strategies they were able to secure enhanced employment packages. They also attribute their success to our helping them create and express a better value proposition and successfully use their value-driven brand during negotiations.
***Home Based Office
More and more companies seem to have embraced and expanded the concept of home based offices. The relocation momentum has been partially moderated by this executive employment trend embraced by many companies as a cheaper alternative than paying for relocation packages. We have no definitive conclusions on this trend but will continue to track this statistic closely throughout 2019.